Allurion Technologies Inc. (NYSE:ALUR) Short Interest Down 11.5% in June

Allurion Technologies Inc. (NYSE:ALUR) was the recipient of a large decrease in short interest during the month of June. As of June 15th, there was short interest totalling 526,100 shares, a decrease of 11.5% from the May 31st total of 594,200 shares. Currently, 1.7% of the shares of the stock are sold short. Based on an average trading volume of 2,060,000 shares, the short-interest ratio is currently 0.3 days.

Institutional Investors Weigh In On Allurion Technologies

An institutional investor recently bought a new position in Allurion Technologies stock. Alpine Global Management LLC purchased a new position in shares of Allurion Technologies Inc. (NYSE:ALUR) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 22,536 shares of the company’s stock, valued at approximately $97,000. Alpine Global Management LLC owned 0.07% of Allurion Technologies as of its most recent SEC filing. Hedge funds and other institutional investors own 21.39% of the company’s stock.

Analyst Ratings Changes

Separately, Chardan Capital reaffirmed a “buy” rating and issued a $5.00 target price on shares of Allurion Technologies in a research note on Wednesday, May 15th.

Allurion Technologies Stock Performance

NYSE ALUR remained flat at $1.26 during mid-day trading on Wednesday. 443,424 shares of the company were exchanged, compared to its average volume of 1,122,877. Allurion Technologies has a 1 year low of $0.83 and a 1 year high of $9.00. The firm’s fifty day simple moving average is $1.68 and its two-hundred day simple moving average is $2.43.

Allurion Technologies (NYSE:ALUR) last released its earnings results on Tuesday, May 14th. The company reported $0.11 earnings per share for the quarter. The business had revenue of $9.39 million for the quarter. As a group, equities analysts predict that Allurion Technologies will post -0.65 EPS for the current year.

About Allurion Technologies

Allurion Technologies Inc focuses on ending obesity with a weight loss platform to treat people who are overweight. Its platform, the Allurion Program, features swallowable and procedure-less intragastric balloon for weight loss (the Allurion Balloon), as well as offers access to AI-powered remote patient monitoring tools, a proprietary behavior change program, secure messaging, and video telehealth that are delivered by the Allurion Virtual Care Suite.